Itau Unibanco Stock Price, News & Analysis

Itaú Unibanco Holding S.A. (NYSE: ITUB) is set to disclose its 1Q22 financial results on May 9, 2022, before market opening in both Brazil and the US. The company will host an interactive meeting featuring a Q&A session starting at 9 AM EDT, where key executives including CEO Milton Maluhy Filho and CFO Alexsandro Broedel will present the results. Stakeholders can register for the event via the Company’s Investor Relations website to stay updated on financial performance and strategic direction.

Itaú Unibanco has acquired an 11.36% equity stake in XP Inc. for approximately R$ 8 billion. This acquisition follows the previous announcement made on May 11, 2017, and received all necessary approvals. The company clarifies that this transaction will not alter the corporate governance of XP Inc. and is not expected to significantly impact Itaú Unibanco's fiscal year results. This strategic investment reflects Itaú Unibanco's commitment to expanding its market presence.

Itaú Unibanco Holding S.A. (B3: ITUB3, ITUB4; NYSE: ITUB) has filed its annual report on Form 20-F for the fiscal year ending December 31, 2021, with the U.S. SEC. The report is accessible on the SEC's website, as well as in English and Portuguese on the Brazilian Securities and Exchange Commission's website and the Company's Investor Relations site. Shareholders can request hard copies of the audited financial statements at no cost by contacting the Investor Relations team.

Itaú Unibanco Holding S.A. has announced an investment to acquire 12.82% of Rede Agro Fidelidade e Intermediação S.A. (Orbia) through its subsidiaries. This platform, launched in 2019, is Brazil's largest agribusiness marketplace, facilitating a full digital journey for rural producers. Orbia reported R$902 million in sales for 2021 and expects to reach R$3 billion in 2022. The investment aims to enhance credit access for Orbia's customers, with the deal pending approval from Brazilian regulatory bodies.

Itaú Unibanco Holding S.A. has successfully raised R$1 billion through its first issuance of Letras Financeiras Verde, partnering with the Finance Corporation (IFC), a World Bank Group member. This marks a historic first for both Itaú and the IFC in Brazil. The funds will finance electric, hybrid, and multifuel vehicles to promote a low-carbon economy. Itaú aims to allocate R$ 400 billion by 2025 for positive impact sectors. The bank is also committed to reducing emissions by 50% by 2030 and achieving carbon neutrality by 2050.

Itaú Unibanco has entered into a joint venture agreement with TOTVS to establish TECHFIN, aimed at enhancing financial services within TOTVS's management systems. Itaú will invest R$610 million for a 50% stake, with an additional R$450 million contingent on performance targets. This partnership seeks to leverage technology and financial solutions to provide integrated services to corporate clients and supports the strategy of Open Finance. The deal awaits approvals from Brazil's antitrust authority and the Central Bank.

Itaú Unibanco Holding S.A. has announced its financial projections for 2022, outlining key measures for its operations. The total credit portfolio is targeted to grow between 9.0% and 12.0%, while the financial margin with clients is expected between 20.5% and 23.5%. Non-interest expenses are projected to rise by 3.0% to 7.0%. The effective tax rate will range from 30.0% to 33.0%. Overall, sustainable Return on Equity (ROE) is anticipated around 20%. These forecasts are contingent on market conditions and may differ from actual results.

On February 10, 2022, Itaú Unibanco Holding S.A. announced that its Board of Directors approved the payment of interest on capital for the fiscal year ending December 31, 2021. Stockholders will receive R$0.013660 per share, subject to a 15% income tax withholding, resulting in a net payment of R$0.011611 per share. Payments are scheduled for March 11, 2022, based on stockholding positions recorded on February 21, 2022. The Board also approved the payment of previously declared interest of R$0.224868 per share on the same date.